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    American Airlines nears chapter 11

    American Airlines nears chapter 11

    American Airlines is this morning reported to be close to filing for chapter 11 bankruptcy protection as the company's losses mount.

    Author Date published March 11, 2003 Categories

    Other storiesUS companies clueless on global standards

    Union officials in the US are reported to be expecting American Airlines to file anytime as a result of the estimated $5m (£3.1m) a day losses.

    The Times reports this morning that American has begun negotiating a refinancing package on Wall Street should it go into chapter 11.

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